Samsung Group’s Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker.

Investigation is currently on-going to establish if the vice chairman of Samsung Electronics Co. was involved in the $38 million bribe which is meant to influence illegal friendship with the South Korean President Park Geun-hye, in exchange for government support of his management succession. Prosecutors allege that Lee, 48, funded Park’s associates as he tried to consolidate control over the sprawling conglomerate founded by his grandfather.

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http://cwnl..com.ng/2017/02/samsung-group-head-arrested-for-bibery.html?m=1